Hi, there! In our fifth month of being part of the international cohort of Financial Service grantees we are creating great traction, both among our local Dutch community of online businesses and within the ILP ecosystem. For those who are not aware yet, we at AgnostiPay are creating an open-source ‘toll-free financial highway’ accessible for everyone. With our technology you can connect with the end-users' needs to conveniently take control of their own local financial services from a signal place - in your app, webshop or platform. By conveniently onboarding and enabling value flow - through easy top-ups into the ILP network, it puts ILP to work for a large scale audience.
If you want to read up what we did and learned before, our previous updates can be found here:
Progress on objectives
We hope that by sharing our progress in public every month helps to connect with like-minded individuals across the globe to make our shared vision a reality. Because together is the only way we can truly make this happen. So if you think you can help us, or if you would like more information, don't hesitate to reach out to us directly. Find our socials and contact details at the bottom of this post.
Technical Feasibility Update
Over the last month we gathered feedback on our technical White paper, by a great group of enthusiastic developers supporting AgnostiPay - you know who you are, many thanks for that! Due to this feedback and subsequently diving even deeper into the underlying content, we did further research into possible decentral communication architectures and frameworks. Among those are WebRTC, Noise protocol and libp2p, which seem to be interesting solutions to our challenges.
Also we used this month to further research and prototype financial service Providers, to better understand how we should define the specific integration ‘Manifests’ and ‘Plugins’ for the Providers (such as exchanges and other local banks). We also dove deeper into defining transaction Playbooks - which we use to govern transaction flows across the different Providers. Specifically into the concept of ‘Playbook lifecycles’ that defines the beginning and end of a transaction flow.
As you may have noticed - because of the reason described above - we therefore did have some delays with sharing the technical White paper in public. We are nearly there and would love one additional round of feedback. So if you are a developer and interested in our technology, don't hesitate to reach out and get a sneak preview at our current draft version.
Developer & Community Engagement
During the last month we continued the conversations with various stakeholders in the local ecosystem. We shared our vision and progress with some newly interested developers and received great feedback on our Whitepaper from an international ring of enthusiastic developers. We are looking forward to hosting a physical meetup to bring all of the stakeholders and developers together to celebrate what we achieved so far and look forward to the exciting steps we are about to take.
Besides the tech-side of the community we also started extensively engaging with other stakeholders in the local ecosystem. When it comes to a ‘toll-free financial highway’, specifically online businesses such as webshops and saas platforms seemed to be very interested in our proposition - as it can drastically reduce their operating cost and allows them to take back control over their online payments. In the next section we elaborate on how we are setting up a consortium of online businesses to move beyond the problem-solution fit and move towards a product-market fit of a beta version of the AgnostiPay SDK.
In the last month we started to build a consortium of Dutch online business owners. We connected with various webshop owners and webshop integrator service platforms, of various sizes, but among them are the most important in the region for SMB’s - covering both pure online webshops and offline-online hybrid forms. Through these market stakeholder conversations we collectively discovered that we should first build a consortium with webshop integrator service platforms. Because they can then later conveniently provide the AgnostiPay infrastructure to webshop owners - who are more often prioritizing operations above the tech side of their webshop business.
Interestingly enough, we already found the first providers of such webshop integration services willing to be actively involved in building, deploying and maintaining this ‘toll-free financial highway’. We believe that by going step-by-step and truly understanding the different problem-solution fits for each stakeholder we can find the right product-market fit to provide the most leverage value each step of the way.
What’s Next: Planning
We look forward to making more progress on building the local consortium, and further formalize collaborations with (ILP) community partners. In the coming month we aim to share our technical whitepaper in a more public way - since we are finally getting to the level we are (almost!) comfortable sharing it. So, once again, if you would like to have a bit earlier early access to the more technical White paper and share your feedback with us on our new draft version, reach out to us directly. In the meantime, we are looking forward to all the other follow-up conversations planned for this month and continuing to ride this wave together!
Want to reach out directly?
Email: connect ‘at’ agnostipay.io
Or follow other our socials here:
ILP community forum: https://community.interledger.org/agnostipay
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